European Union Integration of Romania and Process of Accounting Normalization

Author:Doru Plesea, Adina Liana Camarda
Position:George Baritiu University of Brasov
Pages:572-575
SUMMARY

Lately the problem of national accounting disparity became stringent while the unification pressure became more powerful. Transnational corporations are being lasted for long time. Business globalization leaded to number companies hereinabove proliferation as well as countries wherein they are operating. Along with business globalization another criteria pointing out the requirement of accounting ... (see full summary)

 
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European Union Integration of Romania and Process of Accounting
Normalization
Doru Pleşea1, Adina Liana Camarda2
1“George Bariţiu” University of Brasov, plesea_doru@yahoo.com
2“George Bariţiu” University of Brasov, adinaturism@yahoo.com
Abstract: Lately the problem of national accounting disparity became stringent while the u nification
pressure became more powerful. Transnational corp orations are being la sted for long time. Business
globalization leaded to number companies hereinabove prol iferation as well as countries wherein they ar e
operating. Along with business globalization another criteria pointing out t he requirement of accounting
harmonization is being characterized by ca pital market globalization. Considering the fact that types of
activities became transnational, terr itorially as a matter of fact, exigency and requirement of different
countries capital infusion occurs. Nowadays competition between capital markets might be one of the
strongest factors of internationally accounting harmonization encouragement.
Keywords: European Union, Romania integration, globalization, harmonization, accounting.
1 Introduction
It is well known that law system widely influences accounting system. Emerging from hypotheses
hereby idea of different accounting systems requirement valid to each country individually is being
acknowledged.
An evenly distributed global accounting was and it is being now basic objective of field specialists.
Accounting, as fundamental communication tool, differs from one country to another according to its
content and methods of application. Differences between accounting systems at national level might
result in inefficiency, opportunity lack and distortions of companies and market operators’ behavior.
Recently, when pressure of unification enhances national accounting disparities issue has become
more stringent. Transnational corporations are being lasted for long time. Business globalization
leaded to number companies hereinabove proliferation as well as countries wherein they are operating1
(Pleşea D., 2008).
Accounting in its deepest meaning emphasizes a business language that is to communicate economic
issues in each state that needs to be adapted to dialog provided with fiscally authorities, banking
agents or investitures. Along with business globalization another criteria pointing out the requirement
of accounting harmonization is being characterized by capital market globalization. Considering the
fact that types of activities became transnational, territorially as a matter of fact, exigency and
requirement of different countries capital infusion occurs. Nowadays competition between capital
markets might be one of the strongest factors of internationally accounting harmonization
encouragement. First of all there is about information perception elaborated in a national accounting
1 Pleşea D., (2008) International Accounting Convergence, Omnia Unisast Publishing House Brasov.
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